Paul Restaurant is considering the purchase of a $11,000 souffl maker. The souffl maker has an economic life of 8 years and will be fully depreciated by the straight-line method. The machine will produce 1,400 souffls per year, with each costing $2.70 to make and priced at $4.70. The discount rate is 11 percent and the tax rate is 24 percent.

What is the NPV of the project?